Panoptic
- Company typePrivate
- Founded2022
- HeadquartersBrookline, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
Panoptic firmographics
Firmographics- Name
- Panoptic
- Legal name
- Axicon Labs Inc.
- Website
- https://panoptic.xyz
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Panoptic industry classification
Industry- Product category
- Decentralized Finance Protocol
- NAICS
- Other Investment Pools and Funds (5259), Other Financial Vehicles (525990)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG)
- akta.pro secondary industries
- Liquidity Provision & Market Making Protocols (AMMs, concentrated liquidity, LP tooling) (FSAPAEAF), Lending Protocol Infrastructure (Oracles, Rate Models, Vaults) (FSADAFAN)
Keywords
Where Panoptic is headquartered
LocationHeadquarters
- HQ city
- Brookline
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Panoptic business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Commission Fees: Charged when opening positions (0.01% of notional) and when closing positions if premium has been realized (0.1% of net streamia). These fees apply to all options trades executed on the protocol.
- Streamia (Streaming Premia): The primary pricing mechanism for perpetual options. Option buyers pay continuous streaming fees to sellers based on the swap fees the borrowed LP position would earn, plus liquidity spread. The spread is calculated as 0.25 × buy/(sell-buy).
- Lending Interest: With V2's integrated lending markets, users supply assets to earn interest. Interest rates adjust dynamically based on pool utilization, creating a revenue stream from borrowing activity.
- Performance Fees (Future): External vault curators can earn performance fees by building and managing custom vaults using Panoptic's SDK. These fees are charged to depositors in managed vault strategies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Options Trading Commission |
| Usage-based | Pay-as-you-go | Lending Market Interest |
| Other | Monthly | Community Vaults (Zero Performance Fees) |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
Panoptic product offering
Product offeringCore offering
Panoptic is a DeFi protocol that enables the minting, trading, and market-making of perpetual put and call options on any ERC20 token via Uniswap liquidity. Built on Ethereum with no expiration dates, oracle-free pricing via a streamia (streaming premia) model, and portfolio-aware margin, it also offers automated vaults, integrated lending/borrowing, and an SDK for custom strategy deployment.
Product overview
Panoptic is a unified DeFi yield platform built on Ethereum that offers perpetual options trading, automated vault strategies, and native lending/borrowing in a single system. The core product is Panoptic V2, which combines perpetual options infrastructure (built on Uniswap V3/V4 liquidity), automated Panoptic Vaults (including USDC Unicorn Vault, WETH PLP Vault, and Volatility Harvesting Vaults), an integrated lending/borrowing market with portfolio-aware margin, and an advanced options trading interface with RFQ functionality. Panoptic's protocol enables permissionless options trading on any ERC20 token with up to 10× leverage, no expiry dates, and oracle-free pricing through its unique streamia (streaming premia) model. The platform also supports 24/7 RWA trading (starting with SPCXx), and offers a Panoptic SDK for developers to build custom vault strategies. Users can participate as active traders (self-directed options strategies), passive depositors (vault yields), or vault curators (strategy managers earning performance fees).
Differentiator
Problem solved
Functional benefit
Products and services
- Panoptic V2 The second major version of the Panoptic protocol — a unified DeFi yield platform that combines perpetual options trading, lending, borrowing, and portfolio-aware margin with automated vault strategies on Ethereum.
- Perpetual Options Platform The foundational DeFi protocol enabling minting, trading, and market-making of perpetual put and call options on any ERC20 token via Uniswap liquidity, with no expiry dates and oracle-free pricing.
- Perpetual Options Vaults (POVs) Automated onchain vaults that generate yield from market volatility by executing perpetual options strategies on behalf of depositors. Users deposit capital once and earn yield without active management.
- USDC Vault (The Unicorn) A community vault that deposits USDC into Panoptic's lending markets and performs systematic delta-neutral gamma scalping, earning yield by automatically buying low and selling high. Carries zero performance fees.
- WETH Vault (PLP) A community vault that deposits WETH into lending markets and earns yield through lending, market making on Panoptic, and capturing platform fees. Carries zero performance fees.
- Volatility Harvesting Vaults Fully managed onchain vaults that execute automated market-neutral strategies, buying low and selling high to earn yield from volatility without active management.
- Integrated Lending and Borrowing Markets Native lending and borrowing layer within Panoptic V2, allowing users to earn interest by lending capital and borrow funds for leveraged positions with dynamic interest rates based on pool utilization.
- Panoptic Incentive Points (Pips) Points program that rewards users for participating in vaults and trading on the platform. Season 2 launched alongside V2.
- Panoptic SDK Software development kit enabling developers and vault managers to create custom vault strategies, deploy and manage options strategies programmatically, and build on the Panoptic protocol.
- SPCXx Trading Onchain trading infrastructure for SPCXx (a tokenized representation of SpaceX), enabling eligible users to swap, lend, earn yield, and trade options and volatility strategies on the RWA.
Quantifiable outcome
- Gamma scalping in ETH-USDC 5bps pool yielded 219% vs 31% buy-and-hold from 2024-2025
- +4 more outcomes
Companies that use Panoptic
Customer profileSegments5 records
Ideal customer profiles4 records
Panoptic technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
Panoptic partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- SteercorePanoptic and Steer partnered to build infrastructure enabling institutions to design, deploy, and manage structured yield strategies fully onchain. Panoptic serves as the options and liquidity infrastructure layer while Steer handles structuring, orchestration, and distribution. The partnership aims to connect financial intent to onchain execution with customizable, transparent, and controlled strategy design.
- Margarita FinancecorePanoptic partnered with Margarita Finance to create innovative onchain structured products that combine Panoptic's perpetual options capabilities with Margarita's structured products expertise. Joint effort to advance the next generation of DeFi structured finance.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Panoptic competitors and assessment
Company assessmentDirect peers
- Dopex: Dopex is a decentralized options protocol offering options vaults and structured products on Arbitrum and other chains. Comparable to Panoptic in offering vaults that wrap options strategies for passive depositors and in serving sophisticated options traders.
- Lyra: Lyra is a DeFi options AMM offering liquidity-provider-friendly options markets with automated market making. Directly comparable to Panoptic as a DeFi-native options venue targeting both LPs and traders, though Lyra uses a different pricing and liquidation model.
- Friktion: Friktion offered structured DeFi products (Volt vaults) that generated yield using options and derivatives strategies on Solana. Comparable to Panoptic's Perpetual Options Vaults in offering automated, options-driven yield products to passive depositors.
- Opyn: Opyn is a DeFi options and structured products protocol offering covered calls and other strategies. Directly comparable to Panoptic in providing onchain options primitives and structured yield products to DeFi users.
- Hegic: Hegic is one of the earliest onchain options protocols providing put and call options via a liquidity pool model. Comparable to Panoptic in providing permissionless options trading against pooled LP liquidity, though without perpetual or streamia-style pricing.
- Ribbon Finance: Ribbon Finance builds structured products and automated yield vaults around options strategies (e.g., covered calls). Highly comparable to Panoptic's vault-based yield products and options-driven strategies for passive DeFi users.
- Premia: Premia is a decentralized options protocol with an options AMM using a peer-to-pool model. Directly comparable to Panoptic as a DeFi options venue with automated market making, options pools, and structured yield for LPs.
- Aevo: Aevo is a decentralized options and perpetual futures exchange built on an order book. Comparable to Panoptic in serving derivatives traders in DeFi and in supporting options products, though Aevo uses an offchain order book rather than AMM-based pricing.
Broad incumbents
- dYdX: dYdX is a leading decentralized perpetual futures exchange. Comparable as a broad incumbent in DeFi derivatives trading, though focused on perpetuals rather than options; represents the type of sophisticated DeFi trading venue Panoptic users may also engage with.
- Uniswap: Uniswap is the foundational AMM whose liquidity Panoptic uses as its pricing substrate. Comparable as a broad incumbent DeFi infrastructure player; Panoptic's product is built directly on Uniswap V3/V4 pools and benefits from Uniswap's liquidity, while Uniswap's broader ecosystem adoption drives Panoptic's addressable market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Panoptic social profiles
Digital presencePanoptic compliance and trust
Trust signalCompliance5 records
Panoptic financial estimates
Financial estimateRevenue estimate
Valuation estimate
Panoptic leadership team
Management profileNumber of profiles
Profiles1 record
Panoptic funding detail
Funding detailFunding overview
Funding rounds2 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Panoptic M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Panoptic
What does Panoptic do?
Panoptic is a DeFi protocol that enables the minting, trading, and market-making of perpetual put and call options on any ERC20 token via Uniswap liquidity. Built on Ethereum with no expiration dates, oracle-free pricing via a streamia (streaming premia) model, and portfolio-aware margin, it also offers automated vaults, integrated lending/borrowing, and an SDK for custom strategy deployment.
Is Panoptic a public or private company?
Panoptic is a private company. It is classified as venture growth investor backed and is currently operating.
When was Panoptic founded?
Panoptic was founded in 2022. It employs 11 to 50 people.
Where is Panoptic based?
Panoptic is headquartered in Brookline, United States, in the North America region.
How does Panoptic make money?
Four revenue lines are on record. Commission Fees are the primary driver. The others are streamia (Streaming Premia), lending Interest and performance Fees (Future).
Who are Panoptic's main competitors?
Direct peers on record are Dopex, Lyra, Friktion, Opyn, Hegic, Ribbon Finance, Premia and Aevo. Broad incumbents are dYdX and Uniswap.
Does Panoptic have an API?
No public API is recorded for Panoptic.
What industry is Panoptic in?
Panoptic's product category is Decentralized Finance Protocol. Its primary akta.pro industry code is FSAPAEAG, Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield), with a secondary code of FSAPAEAF, Liquidity Provision & Market Making Protocols (AMMs, concentrated liquidity, LP tooling). Its NAICS code is 5259 and its SIC code is 6200.